01—Abstract
Summary
Summary of the 8-K filed September 9, 2025. Cited figures are marked; the original filing is the authoritative source.
Brookfield Asset Management Ltd. (BAM) has filed an 8-K report detailing a significant debt financing event.
On September 9, 2025, the company successfully completed an offering of US$750 milliona in aggregate principal amount of 6.077% notes due in 2055. This issuance, governed by an Indenture and a Second Supplemental Indenture, extends BAM's long-term debt maturity profile with interest payments semi-annually. The notes carry a fixed interest rate of 6.077% and mature on September 15, 2055.
BAM retains flexibility for early redemption, including a "make-whole" provision prior to March 15, 2055, and the ability to redeem at par plus accrued interest from that date onwards, or under specific circumstances related to Canadian withholding taxes. The Indenture includes protective covenants, such as restrictions on incurring liens, and mandates a change of control offer to purchase the notes at 101%b of their principal amount.
02—Key points
Key Highlights
- Completed offering of US$750,000,000 aggregate principal amount of 6.077% notes due 2055.
- Notes mature on September 15, 2055, with semi-annual interest payments.
- BAM has flexibility for early redemption, including a 'make-whole' provision and redemption at par.
- Redemption is also possible in the event of certain changes affecting Canadian withholding tax.
- The Indenture includes restrictions on BAM's ability to incur liens.
- A change of control event triggers an offer to purchase the notes at 101% of their principal amount.
03—Questions
Frequently Asked Questions
What is the principal amount and interest rate of the new notes issued by BAM?
BAM has issued US$750,000,000 in aggregate principal amount of notes with a fixed interest rate of 6.077% per annum.
When do these new notes mature, and how frequently will interest be paid?
The notes mature on September 15, 2055. Interest is payable semi-annually on March 15 and September 15 of each year, with the first payment due on March 15, 2026.
Does BAM have the ability to redeem these notes before maturity?
Yes, BAM can redeem the notes prior to maturity. This includes redemption at a 'make-whole' price before March 15, 2055, and at 100% of the principal amount plus accrued interest from March 15, 2055, onwards. Special provisions for redemption also exist in case of certain Canadian withholding tax changes.
What protections are in place for noteholders regarding liens and changes in control?
The Indenture restricts BAM's ability to incur liens. Furthermore, in the event of certain change of control events, BAM is obligated to make an offer to purchase the notes at 101% of their principal amount, plus accrued and unpaid interest.
04—Continue